Christopher McQuarrie has directed the film from a script by Drew Pearce and Will Staples. Cruise has produced along with JJ Abrams, and David Ellison of Skydance Productions, reported Variety.

The move puts ‘Mission: Impossible 5’ on the same weekend when ‘Guardians of the Galaxy’ opened last year, ending up as the highest-grossing film of the summer. It also puts ‘Mission’ three months ahead of the November 6 launch of ‘Spectre’, the next James Bond movie.

Filming began last August in Vienna. ‘Mission: Impossible 5’ is the fourth title to land on the July 31 date following the Weinstein Co’s Jake Gyllenhaal boxing drama ‘Southpaw’, Warner Bros’ ‘Point Break’ remake and Focus’ sci-fi movie ‘Selfless’, starring Ryan Reynolds.